INSTITUT VOET: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
INSTITUT VOET
Largest movements
- Cash +€40,257
up €40,257 (+18.7%), from €214,775 to €255,032
mainly Net result for the year (+€64,298) and Depreciation (+€17,011)
- Tangible fixed assets -€17,011
down €17,011 (-5.9%), from €286,843 to €269,831
- Profit (loss) carried forward +€34,541
up €34,541 (+12.3%), from €281,189 to €315,730
- Debts after one year -€13,977
down €13,977 (-29.0%), from €48,260 to €34,283
- Gross operating margin +€2,654
up €2,654 (+2.5%), from €104,810 to €107,464
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €502,514 | €526,217 | +€23,703 | +4.7% |
| Fixed assets | 21/28 | €286,843 | €269,831 | -€17,011 | -5.9% |
| Tangible fixed assets | 22/27 | €286,843 | €269,831 | -€17,011 | -5.9% |
| Land and buildings | 22 | €286,843 | €269,831 | -€17,011 | -5.9% |
| Current assets | 29/58 | €215,671 | €256,386 | +€40,715 | +18.9% |
| Cash at bank and in hand | 54/58 | €214,775 | €255,032 | +€40,257 | +18.7% |
| Deferred charges and accrued income | 490/1 | €896 | €1,354 | +€458 | +51.1% |
| Total equity and liabilities | 10/49 | €502,514 | €526,217 | +€23,703 | +4.7% |
| Equity | 10/15 | €400,547 | €435,088 | +€34,541 | +8.6% |
| Contributions | 10/11 | €45,117 | €45,117 | = | 0.0% |
| Reserves | 13 | €74,241 | €74,241 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,512 | €4,512 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,512 | €4,512 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,344 | €15,344 | = | 0.0% |
| Distributable reserves | 133 | €54,385 | €54,385 | = | 0.0% |
| Profit (loss) carried forward | 14 | €281,189 | €315,730 | +€34,541 | +12.3% |
| Amounts payable | 17/49 | €101,967 | €91,129 | -€10,838 | -10.6% |
| Amounts payable after more than one year | 17 | €48,260 | €34,283 | -€13,977 | -29.0% |
| Financial debts | 170/4 | €48,260 | €34,283 | -€13,977 | -29.0% |
| Amounts payable within one year | 42/48 | €52,273 | €54,385 | +€2,112 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €13,485 | €13,977 | +€491 | +3.6% |
| Trade debts | 44 | €31 | €984 | +€953 | +3075.4% |
| Suppliers | 440/4 | €31 | €984 | +€953 | +3075.4% |
| Taxes, remuneration and social security | 45 | €14,960 | €15,627 | +€667 | +4.5% |
| Taxes | 450/3 | €14,960 | €15,627 | +€667 | +4.5% |
| Other amounts payable | 47/48 | €23,797 | €23,797 | -€0 | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,434 | €2,461 | +€1,027 | +71.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,011 | €17,011 | = | 0.0% |
| Other operating charges | 640/8 | €1,919 | €1,979 | +€60 | +3.1% |
| Gross operating margin | 9900 | €104,810 | €107,464 | +€2,654 | +2.5% |
| Operating profit (loss) | 9901 | €85,879 | €88,473 | +€2,594 | +3.0% |
| Financial charges | 65/66B | €2,697 | €2,258 | -€438 | -16.3% |
| Recurring financial charges | 65 | €2,697 | €2,258 | -€438 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €83,183 | €86,215 | +€3,032 | +3.6% |
| Income taxes | 67/77 | €21,500 | €21,917 | +€417 | +1.9% |
| Profit (loss) for the period | 9904 | €61,683 | €64,298 | +€2,615 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €61,683 | €64,298 | +€2,615 | +4.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.